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20121121
20121129
Search Results 0 to 14 of about 15 (some duplicates have been removed)
. >> tom: i'm tom hudson. massive spending cuts and tax hikes are set to hit the u.s. economy on january first. by most estimates if we go over the cliff, the u.s. economy will plunge into recession. >> susie: we look at the impact of the coming cliff and whether congress and the white house can strike a deal. >> tom: that and more tonight on n.b.r.! it was the chairman of the federal reserve ben bernanke who first called it a fiscal cliff. he described the coming automatic cuts in government spending and increases in taxes as, quote, "a massive fiscal cliff," end quote. here's what he was describing: on january 1, 2013, tax breaks worth $416 billion will expire. spending on things like defense, medicare payments to doctors will be slashed by $65 billion. add it all up and you are talking about cutting roughly half a trillion dollars from the federal budget. the congressional budget office and others warn going over the cliff will send the economy into a recession in the first half of next year. it was congress and the white house that set the deadline in hopes of forcing each other to c
this year, we have an update on holiday travel. >> tom: and two of the taxes scheduled to go up if we go over the fiscal cliff will hit investors. we ask the c.e.o. of utility next era energy lew hay about higher taxes on dividends and stock gains. >> susie: that and more tonight on "n.b.r."! black friday comes early this year. all across the country americans are already lining up outside stores, camping out for the earlier-than-ever start to the holiday shopping season. scenes like this are popping up in shopping mall parking lots. these tents are pitched outside a best buy in tampa, florida, where shoppers are hoping to get the early-bird holiday specials. with big retail chains opening their doors for black friday, on thursday night, there are complaints about companies putting commerce ahead of family time. walmart has been threatened with protests by its employees. the company filed a complaint with the national labor relations board hoping to stop the demonstrations, but the board won't rule on it before tomorrow. diane eastabrook looks at the personal price of thanksgiving day st
lawmakers pledging never to vote for higher taxes. find out what grover norquist thinks will happen with the fiscal cliff. >> susie: and hewlett packard stuns investors with news of an $9 billion mistake. >> tom: that and more tonight on nbr! >> susie: federal reserve chairman ben bernanke came to new york city today to send a tough message back to washington-- get your act together. he urged lawmakers and the white house to reach a quick deal to avoid the fiscal cliff, saying it might mean next year could be "a very good one for the economy." ben bernanke didn't endorse any specific tax or spending policies to solve the fiscal cliff, but he urged lawmakers to think creatively. he said an agreement on ways to reduce long-term federal budget deficits could remove road blocks to growth. on the other hand, going over the cliff might mean a recession. on top of that, worries about a deal were already causing trouble. >> uncertainty about how the fiscal cliff, the raising of the debt limit, and the longer-term budget situation will be addressed appears already to be affecting private spe
the pressure today to get a deal on tax hikes for the wealthy and spending cuts. good evening. i'm jeffrey brown. >> suarez: and i'm ray suarez. on the newshour tonight, we get two opposing views on how to avert the so-called fiscal cliff from representatives tom price and keith ellison. >> brown: then, president obama sat down with mexico's president-elect, enrique pena nieto, this afternoon. one topic for them and for us tonight: the war on drugs, on both sides of the border. >> suarez: as lawmakers talk of reducing the country's debt, paul solman offers a history lesson on centuries of federal borrowing. >> the united states was going into default. we defaulted on many obligations to foreign creditors and to our own soldiers. >> brown: plus, every month, 1,000 young americans are infected with h.i.v., and most of those with the disease don't even know they have it. hari sreenivasan looks at a new report from the c.d.c. that's all ahead on tonight's newshour. major funding for the pbs newshour has been provided by: moving our economy for 160 years. bnsf, the engine that connects us. and
in resolving the stand-off over tax increases and spending cuts. the dow fell 89 points, the nasdaq lost nine, the s&p 500 down seven. >> tom: as susie mentioned, talks to resolve the fiscal cliff are moving slowly. one reason is that there is deep disagreement over whether entitlement programs like social security and medicare should be on the table right now or not, and the disagreement is sharpest over social security. darren gersh takes a look at why. >> reporter: the number-two man in the senate democratic leadership argues any fix for social security's finances should come after the immediate challenge is out of the way. >> i think we should take social security off the table for the current fiscal cliff and deficit discussion, but be very honest about what we're going to achieve in the near term. >> reporter: republicans pushed back, arguing social security is part of the deficit problem because it is no longer taking in enough in taxes to cover the benefits it pays out. social security makes up the difference by cashing in special treasury bonds it holds in its trust fund. but conserv
abortion? what is your view of taxes? and what you find is that people who have very strong, conservative political beliefs cannot deal with this science, because it threatens everything else they believe. >> do you really believe, are you convinced that there are no free-market solutions? there's no way to let the market help us solve this crisis? >> no, absolutely the market can play a role. there are things that government can do to incentivize the free market to do a better job, yes. but is that a replacement for getting in the way, actively, of the fossil fuel industry and preventing them from destroying our chances of a future on a livable planet? it's not a replacement. we have to do both. yes, we need these market incentives on the one hand to encourage renewable energy. but we also need a government that's willing to say no. no, you can't mine the alberta tar sands and burn enough carbon that you will have game over for the climate as james hansen has said. >> but i'm one of those who is the other end of the corporation. i mean, we had a crisis in new york the last two weeks. we
in taxes. >> reporter: the president and congressional leaders are unlikely to raise the retirement age for medicare to 67 since polls show that's very unpopular. and they will try to minimize opposition to any other changes they make. >> i think a pretty small share of the spending savings will be actually structural reforms or things that could directly affect beneficiaries and those things will probably be slowly phased in. >> reporter: but without an agreement to trim entitlements, republicans say they won't raise taxes. and the white house says the president is not backing down. >> he will not sign an extension of the bush-era tax cuts for the top 2% because it's bad economic policy. >> reporter: the president's tax plans got some support from legendary investor warren buffett today. writing in the new york times, buffett says higher taxes won't lead the wealthy to go on strike and give up promising investment opportunities. darren gersh, "n.b.r.," washington. >> tom: talk of the fiscal cliff threat didn't seem to hurt cyber monday, the biggest online shopping day of the year. amer
things, you're saying taxes should go-- in other words, the bush tax cuts should be allowed to expire on everyone under $500,000. which is more than what the president is saying. he's saying it ought to be at 250. yet difference? and have you tukd him about that? >> sure, yeah, yeah, it was over 500, not under 500. yeah, i-- that position, judy, is one that i put on the table a year ago. and i'll tell you why. there isn't anything sort of theological about the $500,000 number. it's just a compromise. the democrats' position has been tax cuts to expire over 250. the republicans' position has been make all the tax cuts permanent. so a year ago i put a of a compromise on the table. if that compromise were accepted, it would raise $500 billion in revenue over the next 10 years, which would take the potential trillion-dollar sequester and cut it in half. and there arar a couple of other steps i put on the table during the campaign as well that would reduce the need to find savings that would shred the safety net or hurt the economy. i am really heartened by the of discussion that are takin
court ruling called "speech now," and the politically active tax exempt groups which also represented the other most important trend hereby the growth in undisclosed money. these groups call themselves social welfare groups even though they're very political in their messages, and social welfare groups don't have to say who their donors are or where their money comes from. so that's a really big change. >> woodruff: matea gold, how did they operate differently from what we've seen in the past? many of them don't have to disclose-- some do, but many don't. what else was different? >> well, i think as, liga mentioned, the c-4 activity is new. we saw it in past elections but citizenses united gave them a legal right to engage in independent political spending and they really did so with vigor. one of the things that is important to remember remember when we talk about the $1 billion in outside spending. that's just the spending that was reported. there are probably hundreds of millions of dollars more that we don't know about. >> woodruff: and what did the money go toward? we assume, eli
? >> one thing i'm worried about is the fiscal cliff issue, the tax increases and spending cuts that take place january 1 unless congress and the president reach a deal. businesses have been worried about that for months. maybe consumers are start-- maybe it's starting to creep into their thinking as well. we saw a weaker consumer sentiment number last week. that's thing to watch to worry about as we wonder what the holiday season will be like. >> brown: nariman behravesh, is it strange or do things really change? on the one hand, we want people to get out and spend, but on the other hand, we still talk about over-spending and spending money people didn't really have was part of the problem that got us into this state in the first place. so what's-- that sounds like a little bit of a disconnect. where are we on that? >> well, i think neil is right in saying consumer finances are in much better shape right now. so in that sense, the kind of spending we're seeing now is more sustainable. it's healthier in a sense. debt levels are down. people are not taking, say, home equity out to spend on
buying plan: more austerity in the form of tax hikes, government pay and pension cuts and the like to be overseen by his bank and the international monetary fund. for all the public reassurances, new austerity conditions have sparked bitter protests. in spain. in greece, twice bailed out already and yet again pleading for more slack. this protest was prompted by an october visit from german prime minister angela merkel, who many greeks blame for the painful cuts they've already endured. but, back at home, merkel must contend with an anti-bailout public in germany a germany which must ultimately approve any europe-wide debt relief program, since it funds about a quarter of the european central bank. but germany has no choice. it has to keep playing the game. or at least that's the conviction of a key insider, new york lawyer lee buchheit. >> as the french say: for want of better, and for fear of worse. >> reporter: buchheit is mr. insider-- greece's chief debt negotiator. he's managed the country's bargaining strategy these past pinched years: and is the go-to guy for many a nation
. you and i have to pay taxes. people have to train scientists to build bombs. people have to finance factories to do the building. everyone in this country is involved in that war. what the soldier did is at the end of an enormous long chain, he pulled the trigger. that was his part. but we all like to believe that he did it. we didn't do it. and that is going to alienate a person right away. it's like, "yeah, i did it. and what, and i'm the only one that is responsible for this? why are you laying it all on me?" that's one big problem. and i think it's a problem of alienation, when people come back, and they realize that nobody really cared. and they don't even want to take responsibility for the fact that they were part of the enormous machinery that had all this take place. so i do think that it's important. and i think that these people are proud. they're proud to be in the military. they are volunteers. and they generally want to do a good job and all that. but i can't think that they're not getting a bit resentful. seven tours? it's like, what are you guys doing to help here? a
Search Results 0 to 14 of about 15 (some duplicates have been removed)